01 October 2020
19:46
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Whether the federal coalition agreement is enjoyed by entrepreneurs strongly depends on the sector in which they operate.
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In addition to the relief that there is a government and praise for the many federal ambitions, the business community also criticizes the vagueness of the coalition agreement. Many sectors are waiting to see how it will be translated into regulations.
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This is the case, among others, for pharmaceutical companies, which are looking at a savings on the pharmaceutical budget of 250 million euros. The sector federation Pharma.be says it is pleased with the wide attention for healthcare and the fight against Covid-19, but thinks it is ‘too early for a more substantive appreciation’.
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Tobacco companies also become the child of the bill. The government hopes to collect 480 million euros from higher VAT and excise duties on tobacco products. It is not yet clear how much more expensive tobacco will be. That will depend on the concrete products that the government is aiming for and on the gradual progression with which VAT and excise duties are increased. In addition, manufacturers can still play with their profit margins.
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Luxembourg
Filip Buntinx, the spokesman for tobacco giant BAT, doubts whether the government will be able to support the budget with tobacco. “The Belgians will buy their tobacco in Luxembourg or on the illegal market,” he says. ‘In recent years, higher taxes have no longer resulted in hundreds of millions less in revenue for the government.
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Belgians will buy their tobacco in Luxembourg or on the illegal market.